Related provisions for MCOB 4.6.4
1 - 2 of 2 items.
A retail customer has no right to cancel a home finance transaction1 concluded with a firm but may have a right to cancel a distance contract concluded with a mortgage intermediaryor a home purchase intermediary1for the provision of his services. Whether a mortgage intermediary or a home purchase intermediary1 concludes a distance mortgage mediation contract or a distance home purchase mediation contract1 with a retail customer will depend on the circumstances. For example, an
A retail customer who has a right to cancel a distance mortgage mediation contract or a distance home purchase mediation contract1 may, without giving any reason, cancel the contract by serving notice on the firm, before the expiry of the cancellation period in MCOB 4.6.4 R either:(1) by serving on, or otherwise sending by post, notice to the firm's last known address, addressed to the firm, its appointed representative or on any agent of the firm with authority to accept notice
(1) There are certain additional disclosure requirements laid down by the Distance Marketing Directive that will have to be provided by a mortgage intermediary and a home purchase intermediary4 to a retail customer prior to the conclusion of a distance mortgage mediation contract or a distance home purchase mediation contract4. The purpose of this section, MCOB 4.5, is to set out those additional requirements. MCOB 4.6 sets out the cancellation rights that apply in relation to
If the initial contact of a kind in MCOB 4.4.1 R (1) is with a retail customer with a view to concluding a distance mortgage mediation contract or a distance home purchase mediation contract,4 a firm must:4(1) in addition to initial disclosure information and any other required information, provide the retail customer with the information in MCOB 4 Annex 3 in a durable medium in good time before the conclusion of the distance mortgage mediation contractor distance home purchase